Answer:
c. boats
Explanation:
Income elasticity of demand measures how quantity demanded responds to changes in price.
Goods that are considered necessities usually have the lowest income elasticity of demand. Therefore, the income elasticity of demand for doctors visits and natural gas would be relatively low.
The income elasticity of demand for luxury goods are usually high. Therefore, the income elasticity for boats would be high.
Goods whose price is small compared to income would have a low income elascitiy. Therefore, the income elasticity for hamburgers would be low.
I hope my answer helps you.
Answer:
Date Account titles & Explanation Debit Credit
Apr-05 Merchandise Inventory $23,000
Accounts Payable $23,000
Apr-06 Merchandise Inventory $900
Cash $900
Apr-07 Equipment $26,000
Accounts Payable $26,000
Apr-08 Accounts Payable $3,000
Merchandise Inventory $3,000
Apr-15 Accounts Payable $20,000
($23,000-$20,000)
Merchandise Inventory $400
($20,000*2%)
Cash $19.600
Answer: Form 8-K
Explanation:
An 8-K is a report the corporate changes that happens at an organization. The information given in form 8-K is important to the shareholders of the organization and also to the Securities and Exchange Commission.
Events such as bankruptcy, acquisitions, resignation of directors can all be seen in the report.
Answer:
The $12,000 is the material handling cost should be assigned to products made in March.
Thus, the correct option is a. $12,000
Explanation:
For computing how much of the material handling cost should be assigned, first we have to calculate the per pound of material. The formula is shown below:
Per pound of material = Labor cost ÷ Number of pounds
= $160,000 ÷ 800,000
= $0.2 per pound of material
Now, multiply this per pound of material with moving pounds.
In mathematically,
Material Handling cost = Per unit of pound × Moving material
= $0.2 × 60,000
=$12,000
Hence, the $12,000 is the material handling cost should be assigned to products made in March.
Thus, the correct option is a. $12,000
